Barclays has announced a £14bn lending fund as part of a series of initiatives to help small and medium-sized businesses (SMEs) to succeed and flourish through Brexit and beyond.
More than 100 SME Brexit clinics and seminars will also be run in local communities across the country.
This initiative is designed to help SMEs think about managing cash-flow and working capital, exporting goods abroad, labour, supply chain management, and broader issues of preparedness.
Launching the fund, Group CEO Jes Staley, said:
“Barclays stands ready to help local businesses in towns, cities and rural communities, up and down the country, during this period of uncertainty. Today’s £14bn* fund, along with our broader package of support, shows our commitment to the local businesses that are the backbone of the UK economy – we are here to help them plan for the future and invest for growth.”
“It is the entrepreneurs, the farmers, the manufacturers, the house-builders, the new tech firms, and countless other businesses, that will help the country deal with – and capitalise on – this period of change. Barclays is here to help SMEs to do exactly that.”